Core Viewpoint - South Plains Financial, Inc. has announced a new stock repurchase program allowing for the repurchase of up to $15.0 million of its common stock, set to conclude on February 21, 2026, unless terminated or extended earlier by the Board [1][2]. Company Overview - South Plains Financial, Inc. is the bank holding company for City Bank, which is headquartered in Lubbock, Texas, and is one of the largest independent banks in West Texas, with operations in various Texas markets and Ruidoso, New Mexico [3]. - The company offers a wide range of financial services, including commercial and retail banking, investment, trust, and mortgage services, primarily targeting small and medium-sized businesses and individuals [3]. Stock Repurchase Program Details - The stock repurchase program allows the company to buy back shares through open market purchases and privately negotiated transactions, adhering to legal requirements under the Securities Exchange Act of 1934 [2]. - The extent and timing of repurchases will depend on various factors, including stock performance, market conditions, regulatory requirements, and availability of funds [2]. - The company retains the discretion to begin, suspend, or terminate repurchases at any time without prior notice, and there is no obligation to repurchase a specific number of shares [2].
South Plains Financial, Inc. Announces Stock Repurchase Program